Restaurant
Starbucks - Early Extension
20216 N 27th Ave, Phoenix, AZ 85027
Listing Price: $2,500,000
Investment Overview
Strategically located on N 27th Avenue, which provides direct access to Arizona State Route 101 (Loop 101) and Interstate 17, the subject property benefits from prominent visibility, excellent ingress and egress, strong traffic volumes, a local trade area that provides demand and synergy, population growth, and limited quick service restaurant competition. Loop 101 encompasses much of the Phoenix MSA, connecting Phoenix to Tolleson, Glendale, Peoria, Scottsdale, Mesa, Tempe, and Chandler. In addition, the subject property is surrounded by multiple educational facilities (Barry Goldwater High School: ± 1,745 students & Deer Valley Middle School: ± 594 students), corporate office campuses (Albertsons/Safeway, Best Western, American Express, PetSmart & Honeywell), hospitals (HonorHealth Deer Valley Medical Center), and shopping centers (Deer Valley Towne Center) within a one mile radius, which provide a great driver of consumer traffic for the Starbucks business model.
This Starbucks property features a drive-thru window, an interior dining room with seating, outdoor patio with seating, ample parking, and was constructed in 2015 to reflect one of the most recent Starbucks prototype stores. Starbucks has extended their lease early giving the landlord approximately 11 years remaining of stable rent.
Starbucks - Early Extension
Investment Highlights
- Strategically located on N 27th Avenue, which provides direct access to Arizona State Route 101 (Loop 101) and Interstate 17.
- In 2021 Starbucks elected to extend the lease early to reflect an expiration date of 2036, clearly showing long term commitment to the site.
- Rent will increase 8% in 2031, then 10% in each of the three, 5-year options.
- Oversize parcel for Starbucks at 0.91 acres.
- Newer Starbucks prototype constructed in 2015.
Exclusively Listed By
Broker of Record
-
Ryan Sarbinoff
First Vice President/Regional Manager
Financing By
Listing Price: $2,500,000
Investment Highlights
- Strategically located on N 27th Avenue, which provides direct access to Arizona State Route 101 (Loop 101) and Interstate 17.
- In 2021 Starbucks elected to extend the lease early to reflect an expiration date of 2036, clearly showing long term commitment to the site.
- Rent will increase 8% in 2031, then 10% in each of the three, 5-year options.
- Oversize parcel for Starbucks at 0.91 acres.
- Newer Starbucks prototype constructed in 2015.
Investment Overview
Strategically located on N 27th Avenue, which provides direct access to Arizona State Route 101 (Loop 101) and Interstate 17, the subject property benefits from prominent visibility, excellent ingress and egress, strong traffic volumes, a local trade area that provides demand and synergy, population growth, and limited quick service restaurant competition. Loop 101 encompasses much of the Phoenix MSA, connecting Phoenix to Tolleson, Glendale, Peoria, Scottsdale, Mesa, Tempe, and Chandler. In addition, the subject property is surrounded by multiple educational facilities (Barry Goldwater High School: ± 1,745 students & Deer Valley Middle School: ± 594 students), corporate office campuses (Albertsons/Safeway, Best Western, American Express, PetSmart & Honeywell), hospitals (HonorHealth Deer Valley Medical Center), and shopping centers (Deer Valley Towne Center) within a one mile radius, which provide a great driver of consumer traffic for the Starbucks business model. This Starbucks property features a drive-thru window, an interior dining room with seating, outdoor patio with seating, ample parking, and was constructed in 2015 to reflect one of the most recent Starbucks prototype stores. Starbucks has extended their lease early giving the landlord approximately 11 years remaining of stable rent.
Exclusively Listed By
Broker of Record
-
Ryan Sarbinoff
First Vice President/Regional Manager
Financing By
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